Bail Bond MID TERM Exam Questions with correct Answers | Verified & Updated | 100% Correct

Bail Bond MID TERM Exam Questions with correct Answers | Verified & Updated | 100% Correct premium for bail under $3,000 - Answer ️️ -10% premium for bail $3,000-$10,000 - Answer ️️ -8% premium for bail $10,000+ - Answer ️️ -6% premium for bail less than $200 - Answer ️️ -$10 can you accept $ for obtaining a license - Answer ️️ -no can a lawyer give bail for $ - Answer ️️ -no punishment for insurance fraud - Answer ️️ -fine or up to 10 years punishment for fraud that jeopardizes safety of insurer - Answer ️️ -up to 15 years express authority - Answer ️️ -an agent's power to act on behalf of a principal, explicitly granted by an agreement between the agent and principal implied authority - Answer ️️ -an agent's power to act on behalf of a principal, intentionally granted by the principal as a result of the principal's conduct, but without an express agreement Apparent authority - Answer ️️ -an agent's power to act on behalf of a principal, even though not expressly or implicitly granted Apparent authority protection - Answer ️️ -protects third parties who would otherwise incur losses if the agent's signature did not bind the principal after reasonable observers thought it would Elements of a legal contract (4) - Answer ️️ -offer and acceptance, consideration, competent parties, legal purpose Offer - Answer ️️ -one of the parties made a promise to do or refrain from doing some specified action in the future acceptance - Answer ️️ -expressed unambiguously, through words, deeds or terms in the contract consideration - Answer ️️ -something of value was promised in exchange for the specified action or non-action (NOT GIFT) competent parties - Answer ️️ -refers to a person's ability to satisfy the elements required for someone to enter binding contracts (i.e. age, s